FEIFA (the Federation of European IFAs) has reported a membership growth of more than 10% in the first two months of 2020.
January and February saw seven new companies join the unique trade association. The Federation puts this growth down to a number of factors.
"Continuous Professional Development (CPD) has become a formalised regulatory requirement, following the commencement of MiFID II and the IDD," FEIFA CEO Paul Stanfield explained. "This seems to have led to our professional development and training services being even more sought after.
"In addition, further Brexit uncertainty and the likely difficulties that will result have made the assistance that we can provide to our members increasingly relevant and beneficial to them and to prospective member firms. These two aspects, along with the rest of the benefits that we deliver, appear to be creating increasing engagement in the advisory sector"
Of the new member firms, five are based in mainland Europe: 3D Global, Abbey Wealth, Expat Wealth Advice, Collegas, and ATI Associates (Cyprus) Ltd. The other two, Pension Advice Specialists Ltd and 4 The Record Compliance Ltd (trading as Money Honey), are both UK-based.
"We are very pleased to see that our services and message are being heard and appreciated by an increasing number of companies," Stanfield commented further.
FEIFA is a non-profit trade association that supports and assists English-speaking advisers and advisory firms across Europe. It also has a range of affiliations with all of the relevant international life companies, major asset managers, and the key international pension and trust companies. It works with these entities to provide significant professional development and training services to its membership.